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Salvini taunts the EU

Sometimes a quote bears repeating. So here is Matteo Salvini, deputy prime minister of Italy, speaking in Warsaw yesterday about nationalising Banca Carige.I am sure that Europe will allow Italy to do what is good for Italians, that is to bring it under state control ... If there are profits, the state will receive them, not some private bodies.This is one of the most succinct taunts to emerge from the ongoing tensions between Italy and the EU. The full FT story is here, and here is an analysis on Poland and Italy’s “new European Spring”.For Italy, the current battleground is banking. In the post-crisis era, Brussels has designed a set of rules, which rely on banks issuing bonds that absorb losses at times of distress or failure. These rules, which “bail in” bonds at the discretion of

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Sometimes a quote bears repeating. So here is Matteo Salvini, deputy prime minister of Italy,...

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FT Alphaville is a free daily news and commentary service giving finance professionals the information they need, when they need it. In a world where market professionals are inundated with information there is a pressing need to edit and filter, and hopefully sow a few ideas along the way. That’s where the FT Alphaville team comes in.

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